How many current TD's are landlords? |
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sausy
Jack Charlton MAYO FOR SAM Joined: 13 Jan 2009 Location: The local Status: Offline Points: 6968 |
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I wonder what percentage of those properties are on the market but getting zero interest due to the works involved to turn them back around into places people could live. Could be difficult to value for CPO purposes too. But as already said a lot of these properties are in places people don't want to relocate to. Ignoring 200 year old main street places I wonder what the ghost estate situation is currently like.
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Baldrick
Robbie Keane Peyton-tly Pedantic Joined: 18 Sep 2008 Location: Ireland Status: Online Points: 32731 |
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that’s exactly it sausy. You own a property in a town that requires major work to comply with health and safety and fire regulations etc and the demand for rental there would not pay you to spend all that money to renovate the house and you can find a better location for that money that will give you a better ROI. As a result the house is left.
Someone who has the property but does not have the means to renovate. Should they have the property taken off them by the state or should they pay high taxes on a derelict property they can’t use or renovate. No easy answers that’s for sure and there will be lots of hard case stories.
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AKA pedantic kunt
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Shedite
Jack Charlton Joined: 09 Dec 2011 Status: Offline Points: 9816 |
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Then that number doesn't account for reason of vacancy, just that there was nobody there on census night, of the 30k vacant in Dublin for example... - 4k for sale - 5k being renovated - 3k residents in hospital - 3k recently deceased - 1k new builds awaiting occupancy So it's probably half of the headline figures are really long term vacancy
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MayoMark
Moderator Group The NEW angrier Freewheeler Joined: 27 Jan 2009 Location: Castlebar Status: Offline Points: 26316 |
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Just in terms of the towns I mentioned above, property in town centres in need of renovation get huge interest and sell very easily.
And a huge amount of the bigger town centre properties have been bought up by consortiums over the last number of years as investments etc and have just left the property to rot. I honestly think it's out of order. If there is a solid plan, fair enough. By 5, 10 years sitting idle isn't good enough. Especially when the properties are literally rotting in front of our eyes. @ Sausy, I don't think it's difficult to value these properties at all. Plenty of comparables available. |
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They finally did it man... They killed my f**kin' car...
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MayoMark
Moderator Group The NEW angrier Freewheeler Joined: 27 Jan 2009 Location: Castlebar Status: Offline Points: 26316 |
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Really interesting numbers and just shows these things are never black and white.
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They finally did it man... They killed my f**kin' car...
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sausy
Jack Charlton MAYO FOR SAM Joined: 13 Jan 2009 Location: The local Status: Offline Points: 6968 |
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If there are multiple empty main street properties for sale in the same town not selling then it would be difficult to value. But getting into commercial property valuations is going off track a bit here.
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MayoMark
Moderator Group The NEW angrier Freewheeler Joined: 27 Jan 2009 Location: Castlebar Status: Offline Points: 26316 |
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In the towns I mentioned, town centre properties don't sit there if for sale, they sell pretty well!
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They finally did it man... They killed my f**kin' car...
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Given's zimmerframe
500 Club la la la Joined: 03 Apr 2016 Status: Offline Points: 620 |
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In the rural town I live in many of the main street properties are empty and rotting, when one is put up for sale, it sells almost immediately, sometimes the first time I notice the for sale sign it already has sale agreed slapped on it. If you owned a main street property that was too expensive to get in order, why would you not sell it?
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Shedite
Jack Charlton Joined: 09 Dec 2011 Status: Offline Points: 9816 |
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Given's zimmerframe
500 Club la la la Joined: 03 Apr 2016 Status: Offline Points: 620 |
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Why did it take so long to sell? Did you all want to sell straight away after inheriting?
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sausy
Jack Charlton MAYO FOR SAM Joined: 13 Jan 2009 Location: The local Status: Offline Points: 6968 |
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Outside of probate I have dealt with the purchase of a few in work and everyone has been a disaster. Reconstruction of deeds, endless qualifications on title, rights of way/easements over what is always a massive rear garden etc.
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Shedite
Jack Charlton Joined: 09 Dec 2011 Status: Offline Points: 9816 |
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And yeah, all 5 cousins wanted out once we inherited it. Between legal and tax bills on it, house sold for 120, ended up with a bout 10k each,
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